Wednesday, September 17, 2008

CBS CEO Moonves: Why Watch Live Sports Online When You Can Watch Your HDTV?

After going over the new fall shows, Les Moonves, CBS Corp.’s (NYSE: CBS) president and CEO, offered words of praise for DVRs and TiVo (NSDQ: TIVO), claiming that video-on-demand hasn’t hurt ad dollars. Speaking at Goldman Sachs’ Communacopia conference, Moonves said he was also surprised by how the demand for HD has taken off. “We used to say that people aren’t going to watch because the picture’s better. That’s not true anymore. If you’re not HD, you will suffer. As for TiVo, it has helped. Penetration is up north of 30 percent, higher than DVRs, and the network shows are still important, the ratings are there.” Still, he remains doubtful about live sports and the desire to watch streaming video: ”On a Saturday afternoon, I think people would rather watch their HD screen live than stream it on their computer, unless they’re in an airport, perhaps.”

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